Fastnet Oil & Gas plc - 500 Beiträge pro Seite

[Jon_Schnee]

Wert auf meiner watch list:

Hompepage: http://www.fastnetoilandgas.com/
http://www.fastnetoilandgas.com/~/media/Files/F/Fastnet-Oil-…

Fastnet Overview
• Independent oil and gas exploration company with highly-prospective exploration assets offshore and onshore Morocco and offshore Ireland

– Foum Assaka Licence (Offshore Morocco)

– Farm-in option for Tendrara Lakbir Licence
(Onshore Morocco)

– Shanagarry, Mizzen, East Mizzen, Block 49/13
and Molly Malone Licences (Offshore Ireland)

– Farm-in option for Deep Kinsale Prospect (Offshore Ireland)

• First mover strategy focused on identifying early stage exploration and appraisal opportunities in underexplored and frontier territories

• Early exit strategy, during exploration cycle, focused on de-risking assets to deliver potential upside and near-term results

• Highly experienced management team with a track record of delivering results and creating shareholder value (Cove Energy, Anadarko Petroleum, Island Oil & Gas, Petroceltic, Dana Petroleum


KEY INFORMATION
AIM FAST
ESM FOI
TOTAL ORDINARY SHARES IN ISSUE 273,940,943
CASH $25 million

[Jon_Schnee]

Hauptgrund für "nur" Watch List -> sind die Steuer Diskussionen der Irischen Regierung:

Ireland to review tax on oil, cautious on Norway-style rate
http://uk.finance.yahoo.com/news/ireland-review-tax-oil-caut…

[Jon_Schnee]

Antwort auf Beitrag Nr.: 44.955.085 von Jon_Schnee am 30.06.13 15:51:41

Viele Infos & News:

Proactive Investors
http://www.proactiveinvestors.co.uk/companies/news/57616/fas…

[Jon_Schnee]

Zitat von Jon_Schnee: Viele Infos & News:

Proactive Investors
http://www.proactiveinvestors.co.uk/companies/news/57616/fas…

Was steht derzeit an:

- Fastnet Oil & Gas’s Moroccan asset draws interest from multi-nationals and NOCs

- At the same time, a more advanced farm-out process is also underway for the group’s assets in Ireland’s Celtic Sea. Fastnet opened a data room for interested parties in March and the company expects to strike a deal at some point over the summer.

- In the meantime, work continues to process the 500 square kilometres of 3D seismic shot over the Deep Kinsale project, in the Celtic Sea. Meanwhile, a broader seismic programme is expected to be completed later this month and the results will be available by September.

- In this morning’s update, which was made ahead of institutional investor meetings, Fastnet also said it was fully funded for the next twelve months based on its current expectations of its work programmes.

[Jon_Schnee]

Carol Law Interview – Irish Sunday Independent 17/02/13
http://www.fastnetoilandgas.com/~/media/Files/F/Fastnet-Oil-…

[Jon_Schnee]

Fastnet "positioned well for financial success"

http://www.youtube.com/watch?v=38Y0dHXoMG0

Veröffentlicht am 30.01.2013

Carol Law, Exec. Director at Fastnet Oil & Gas (LON:FAST). Having been at companies like Cove Energy and Anadarko and been involved with many recent big discoveries in the oil and gas industry in places like Mozambique, Ghana and Brazil, Carol tells Proactiveinvestors that Fastnet is "well positioned for financial success. Carol explains a bit about her appointment, her incentive based remuneration package and outlines the progress expected in 2013.

[Jon_Schnee]

UK Forum:

http://www.lse.co.uk/ShareChat.asp?ShareTicker=FAST

[Jon_Schnee]

We are very pleased to announce our first set of annual results as a public company. This year has been a landmark in the Company’s development and one in which we have already delivered shareholder value by building a portfolio of high potential assets in Morocco and offshore Ireland. Since the period-end we have maintained the pace of progress by successfully completing a 3D seismic acquisition programme in the Celtic Sea and expanding our acreage position to onshore Morocco through the farm-in to the Tendrara Lakbir Licence.



The Company’s farm-out programme in relation to the Irish (Celtic Sea) and offshore Morocco (Foum Assaka) interests is progressing well. Discussions are ongoing regarding the Celtic Sea farm-out and we expect these to be concluded in Q4 2013 following the availability of the preliminary results of the 3D seismic data that was recently acquired. With respect to the Foum Assaka farm-out process, a data room was opened in July 2013 and expressions of interest have already been received from several multi-national and national oil corporations. Preferred terms are expected to include the reimbursement of past expenditures, including 3D seismic costs, and a carry for future drilling activities.



The key driver for shareholder value in the near term will be the execution of the Moroccan drilling programme and ensuring that the Company has a material interest in the programme to deliver maximum benefit for shareholders from any future exploration success.

The Annual Report for the year ended 31 March 2013 will be posted to shareholders on 29 August 2013 and will be available to download from the Company's website at www.fastnetoilandgas.com on 29 August 2013.

Notice of the AGM will be posted to shareholders on 29 August 2013. The AGM will be held at 12 noon on 24 September 2013 at the registered office of the company at Number 14, The Embankment, Vale Road, Heaton Mersey, Stockport, Cheshire, SK4 3GN.

You will find the full RNS copied below and attached which was released at 7am this morning.

- If you do not want to be included in the Fastnet distribution list please email [e-mail] and we will have you removed immediately.


COPY OF RNS:

19 August 2013

Fastnet Oil & Gas plc

(“Fastnet”, the “Company” or the “Group”)


Final Results for the year ended 31 March 2013


Fastnet, the independent oil and gas exploration company with near and medium-term drilling opportunities on its extensive acreage position in Morocco and the Celtic Sea, announces its audited results for the year ended 31 March 2013.


Operational Highlights

· Successful entry into offshore (Foum Assaka Licence) and, post-period end, onshore (Tendrara Lakbir) Morocco

· Established one of the largest, exploration-focused, acreage positions in the Celtic Sea of any independent

· Over 25,000 km2 under licence in two emerging exploration “hot spots”

· 2,577 km2 3D seismic survey in Foum Assaka completed and processed, de-risking multiple prospects for drilling in 2014

· Celtic Sea farm-out discussions progressing well; now expected to be concluded in Q4 2013

· Fully funded to meet all current licensing phase commitments and obligations, and, subject to successful farm-outs, a non-obligatory drilling programme on Tendrara Lakbir and an exploration well in Foum Assaka in 2014


Financial Highlights

· Strong balance sheet with £20.7 million in cash reserves at 31 March 2013
·
Oversubscribed share placings which raised £10 million and £15 million in June and November 2012, respectively

· Net loss for the year of £1.4 million inclusive of the acquisition costs of Pathfinder Hydrocarbon Ventures Limited and reverse takeover of Sterling Green Group plc

· Tight cost control measures in place to ensure efficiency of capital is maintained


Corporate Activity

· Successful acquisition of Terra Energy Limited and admission to trading on AIM and ESM

· Acquisition of Pathfinder Hydrocarbon Ventures Limited with the accrued benefit of a carry through seismic acquisition and processing on the Foum Assaka Licence, capped at US$16.2 million



Post-year Highlights

· Successful entry into onshore Morocco (Tendrara Lakbir)

· 1,910 km2 of 3D seismic acquired in the Celtic Sea, the largest 3D seismic survey ever in the area and designed to accelerate potential targets for early drilling

· Entered into exclusive option with PSE Kinsale Energy Limited to farm into the “Deep Kinsale Prospect” beneath the producing Kinsale gas field

· Award of East Mizzen Licensing Option





Cathal Friel, Executive Chairman of Fastnet, commented:

“We are very pleased to announce our first set of annual results as a public company. This year has been a landmark in the Company’s development and one in which the team has already delivered shareholder value through the creation of a significant acreage position in Morocco and the Celtic Sea, Ireland.

“Since the period-end we have maintained the pace of progress with an extensive 3D seismic acquisition programme in the Celtic Sea and entry into the prospective Tendrara Lakbir block, onshore Morocco. The key driver for shareholder value in the near term will be the execution of the Moroccan drilling programme and ensuring that the Company has a material interest in the programme to deliver maximum benefit for shareholders from any future exploration success. With this in mind, the Board looks to the future confident that the Company remains on track to execute its stated business development strategy”.

[Jon_Schnee]

Antwort auf Beitrag Nr.: 45.276.133 von Jon_Schnee am 19.08.13 10:39:41

Fastnet Oil & Gas expects to conclude Celtic Sea deal by fourth quarter

http://www.proactiveinvestors.co.uk/companies/news/60139/fas…

By Ian Lyall August 19 2013, 8:11am

Fastnet Oil & Gas (LON:FAST) said discussions aimed at bringing in a partner to help develop its assets in Ireland’s Celtic Sea are likely to conclude in the fourth quarter of the year.

Fastnet revealed Monday it is in advanced discussions with “several targeted international oil and gas companies”.

It said farm-out terms would likely involve a “significant” contribution to past costs, including 3D seismic and a contribution to a drilling programme anticipated in 2015. It has shot 1,910 square kilometres of 3D, the largest survey in the area.

“The level of any contribution to drilling costs will be dependent on which prospects are sufficiently de-risked for drilling following the preliminary results of the 3D seismic,” Fastnet said in a statement accompanying its full-year results.

“It is [our] objective to focus on potential partners that have a preference to help fund early drilling as this is consistent with the board's monetisation strategy for shareholders.”

The results for the 12 months to March 31 charted a period of significant progress both in Ireland (where it has amassed the largest exploration acreage in the Celtic Sea owned by an independent) and Morocco, with the Foum Assaka and Tendrara Lakbir licences.

A 2,577 square kilometre 3D seismic survey of Foum Assaka has been completed and processed, de-risking multiple prospects for drilling in 2014.

With just under £21mln in the bank as of the financial year-end, the group has enough cash to meet its licensing phase commitments, it said.

As is normal with an exploration company of Fastnet’s ilk the group was loss-making – to the tune of £1.4mln in the period under review.

Chairman Cathal Friel said: "We are very pleased to announce our first set of annual results as a public company.

“This year has been a landmark in the company's development and one in which the team has already delivered shareholder value through the creation of a significant acreage position in Morocco and the Celtic Sea, Ireland.

"Since the period-end we have maintained the pace of progress with an extensive 3D seismic acquisition programme in the Celtic Sea and entry into the prospective Tendrara Lakbir block, onshore Morocco.

“The key driver for shareholder value in the near term will be the execution of the Moroccan drilling programme and ensuring that the company has a material interest in the programme to deliver maximum benefit for shareholders from any future exploration success.

“With this in mind, the board looks to the future confident that the company remains on track to execute its stated business development strategy."